Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.38% against the USD and closed at USD1324.50 per ounce, amid strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1327.20, with gold trading 0.2% higher against the USD from yesterday’s close, as the US President, Donal Trump’s decision to impose hefty import tariffs on Chinese goods intensified concerns over a global trade war and increased demand for the safe-haven metal.
The pair is expected to find support at 1322.43, and a fall through could take it to the next support level of 1317.67. The pair is expected to find its first resistance at 1331.23, and a rise through could take it to the next resistance level of 1335.27.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
